TSLA is at the main support channel line, and at the MA support level, it is a pivot point. The uptrend channel is still valid, but at this point there is no direction, it just came down from the downtrend leg from the 300 level until the 230 level. The volume has been weakening and at this time it's below average.
Market Volatility is at 17.6, and in an uptrend since late last month when it was above 13. If the market volatility increases then it is very likely TSLA will follow and it will break down the support line.
At his time, this is a "wait for confirmation" scenario, If the price breaks breaks above the 235 level the uptrend channel may still give another leg to the upside.
If the Overall market volatility increases and the price goes below the channel support line then it will develop a bearish leg.
Target to the upside: 330
Target to the downside :180
Market Volatility is at 17.6, and in an uptrend since late last month when it was above 13. If the market volatility increases then it is very likely TSLA will follow and it will break down the support line.
At his time, this is a "wait for confirmation" scenario, If the price breaks breaks above the 235 level the uptrend channel may still give another leg to the upside.
If the Overall market volatility increases and the price goes below the channel support line then it will develop a bearish leg.
Target to the upside: 330
Target to the downside :180
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